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Hmcomm

TSE Growth ・ Ticker 265A ・ Listed

Updated

Result on listing day

+32.7%

Offer price

850 yen

First traded price

1,128 yen

Selling 100 shares at the first traded price would have produced a gain of 27,800 yen, before fees and tax. 100 shares is the minimum trading unit in Japan.

Application period (book building)
2024-10-10 — 2024-10-17
Lottery result
To be announced
Listing date
2024-10-28
Cash needed to apply for one lot (100 shares)
about 85,000 yen
Offering size (at the offer price)
890 million yen ・ 1,047,400 shares
Market capitalisation at listing
3.4 billion yen
Lock-up
Not translated — this is the wording from the Japanese offering documents, kept verbatim so it matches what your broker shows: 三本幸司代表取締役ら個人の主要株主に180日間、三菱UFJキャピタルなどのベンチャーキャピタルに90日間(公開価格の1.5倍以上での売却は解除)のロックアップが付されています。
Company website
https://hmcom.co.jp/

Brokers you can apply through

You can only enter this lottery through a broker underwriting it. The lead underwriter is SMBC Nikko Securities, which receives the largest allocation.

SMBC日興証券

Broker pages are in Japanese. A comparison in English is on the brokers page.

What stands out

  • Owns a set of AI products built around sound, covering speech recognition, meeting minutes and abnormal noise detection
  • Revenue has grown every year, from 0.80 billion yen in the year to December 2023 to 1.11 billion yen in the year to December 2025
  • For the year to December 2026 the company forecasts consolidated revenue of 1.45 billion yen, including a newly acquired subsidiary

What could go wrong

  • In the year to December 2025 revenue came in at 1.11 billion yen, well short of the initial company forecast of 1.45 billion yen, and net profit fell 80.7% year on year
  • The results for the year to December 2024 were corrected after publication because the estimate of progress on contract work was revised, cutting revenue from 0.98 billion yen to 0.95 billion yen
  • Results can swing depending on when contract development projects are won and booked, which the company itself cites as a source of uncertainty

About the company

Develops AI specialised in sound, and provides businesses with speech recognition for call centres, automatic meeting minutes and detection of abnormal machine noise.

How it makes money

It makes money in two ways. One is its own AI products, such as Voice Contact, which turns phone calls into text and summarises them, the AI minutes service ZMEETING, and FAST-D, which listens to machines to spot early signs of failure. The other is developing AI systems tailored to each client. For reporting purposes it has a single segment, sound-focused AI science. It took over an IT consulting business from IP Partners in March 2025 and made Collabo Techno a subsidiary in May 2026.

Where growth is meant to come from

The plan is to grow recurring revenue by licensing Terry2, a conversational AI agent that automates phone answering, and to expand into neighbouring fields through acquisitions. From the year to December 2026 it reports consolidated results including Collabo Techno, and its consolidated forecast is revenue of 1.45 billion yen and net profit attributable to owners of the parent of 31 million yen.

Read about this company in Japanese →

Figures are taken from the offering documents and public sources, and are checked against two independent sources before publication. Nothing here is investment advice. Shares can and do open below their offer price.